Wednesday, June 03, 2009

Another Potential Hidden Source of Income

There may be some “green shoots” of hope forming in parts of the economy but we are still subject to a long period of uncertainty. I am always looking for ways to pass on little known options for the right situation where someone might benefit.

I’ve talked about life settlements and veteran’s pension benefits and today want to mention annuity purchases. Here are a couple of examples.

1. You bought an annuity years ago and are now receiving payments from this annuity over a number of years, let’s say 20. You set this up for a guaranteed income stream to get you through retirement. Now it is year 5 and you are faced with a serious life crisis. For whatever reason, you need a lump sum of money but don’t have other resources. It is possible that a company who purchases annuity payments can look over your policy and make a cash offer in exchange for your future payments. This may be also possible on a partial amount. If this makes sense for you, it opens a new window to solve a pressing problem.

2. You had an accident or perhaps a medical claim that was settled in the past and you chose payments over a specific number of years versus a lump sum payout. At the time this seemed the prudent thing to do, but again, life interferes and you need access to a larger sum of funds. There may be a company who will make an offer as in example one that will allow you access to funds that you did not have before.

I have access to these companies, so if you are in a similar situation, or know someone else who is, please give me a call at (760)917-0858 or (888)338-3036.

It helps to know as many options as possible, because we are all having to be creative financially in this volatile times and knowing where to turn for help is the first important step.

In the next email, I’m going to explain how certain people can get access to free medical supplies such as new diabetic testers, braces for arthritis, and electric scooters.

Paula Straub